Hey guys My name is Christian and I am from Singapore. I was intrested in Eurex Trading and Forex trading as well. I am very new to trading and was wondering if someone can give me tips and pointers. I wasn't sure which way to go because I was also thinking about trading the NYSE. Maybe someone can help tell me which is the better way to go Eurex, Forex, NYSE. This is because I am not in the U.S. and I am not sure how trading the NYSE and Forex works out for people abroad. Is there anybody here who is not in the US and trades the NYSE or the Forex markets i would really appreciate if you could tell me your experience
EUR/JPY the focus in Asia Category: Overnight news Tags: open We have been beating this drum very loudly for the past few weeks but we think there could be a compelling picture emerging in EUR/JPY. In our opinion, the political will is for the EUR to weaken and the Asian currencies to strengthen; the fundamental view from many major banks is that the "fair value" for EUR/JPY is somewhere around 125-130; the market chatter is that the big hedge fund players are starting to sell; in addition to this, the big "parking positions" for many investment funds who are looking for FX exposure is in long EUR/JPY positions (and this has been extremely profitable over the last 7 years); and finally, although this is more subjective, we can see a technical argument that a longer-term top is forming now just below 170 and we are due for a considerable correction. EUR/USD is seeing a lot of selling from real-money funds and even though the 1.5365 support held again last night, any break below 1.5345 could see the floodgates open. Watch for major support levels such as this in the EUR/USD to break and watch also for sharp and severe sell-offs in USD/JPY. If you see both these events happening within a short space of time of each other, then you will know that the famous "scissors" cross move is underway and its time to jump on. EUR/JPY support on the day is at 160.60/70 and the hourly momentum indicators are currently very heavily oversold. Good luck today.
Spersky: Sorry that I did not get back to you earlier. I did not log to this area. Here are my answers: 1. I use tools and a procedure/method I developed. It is proprietary. What do you think of it if I may ask? How about your trading methods. Feel free to PM me. 2. I think that what you suggested to Curren* is solid advice. Catching falling knifes is a tough game, but if he is sure that it is ok with him it is his money. 3: Curren*: best wishes my friend (in the positive sense). Just make sure you make money. If you do, kudos to you. It is not easy (at least for me) to make money long in what appears to be a selloff like this one. I did not even have a chance to go back on the short side at a good entry point. I am flat now, and kicking my back for having taken profits.
I caught a falling knife and lost 100 pips today on the EUR/JPY. At least I had the sense to place a stop. I am very pissed about that trade. I was expecting the support to hold it.